Savannah morning news. [volume] (Savannah) 1868-1887, 1887-03-11
Now York,s Future.

The control OF the great railroad prop
critics of the country appears to be pass
| ing into the hands OF New York capital
| lists. At the rate at which New York Ia
absorbing railroad and steamship lines 1t
will not be many years before she will con-
troll all OF thcnl. Indeed, it would be diff
cult now to point out a half dozen first
class railroads which she does not control.
Outside Of the holdings Of Gould, the
Nanderoilts, G. =, Huntington and others
OF her rloh citizens not quite so well
known to fame, what is there left:
A few months ago the greatest railroad
system OF the South, the Central OF Geor-
gla, was controlled by those who live IN
this State, Now it is controlled by New
Workers. For years Baltimore has been
proud Of the fact that she and her citi-
zens controlled one OF the great railroad
systems OF the country, the Baltimore
and Ohio. That system is now under
stood TO have passed into the possession
of New York capitalists. The story Is
that the 10000 shares owned by the Gar
retts, the 30, 900 owned by the city, and
the 1900 owned by the Johns Hopkins
University, making total of $4,000
ENTHUSIASTICALLY more than con-
trolling interest--are TO be transferred to
Mr.. Albert Sully and his friends, who con-
troll the Richmond Terminal system.
AS New York grows in population and
wealth this absorption OF the great rail-
road properties OF the country Will go on.
When man becomes million aire in any
ofthe cities outside OF New York he Is very
apt to take up his residence in the metrop-
oils, because New York offers him better
! opportunities than any other city for hand
ling his money to advantage. BE meets
other capitalists there, and with them
forms the combinations which are neces-
! sary for success in great undertakings.
Their accumulated wealth must be in
vested, and wha: better investments are
there than railway, steamship and tele-
graph lines when they are iutelligently
ana honestly mansgedg
Very naturally the owners of railroads
and steamship lines want to do all they
can for the city in which they live, and it
is probable that a loss is suffered some
times by New York ca pitalists in order to
benefit that city. This movement In
New York's interest is certain to become
more marked from year 10 year, and it
cannot fail to assist greatly in her
growth. What the effect of this condition
of affairs will he upon the other cities of
the country it is impossible to say. 1t
may not do them any damage except in
few instances. They all have other re-
sources than the railroads, the develop
ment of which will advance their pros
perity.
Savannah, for instance, will probably
grow as rapidly with the ownership of
the Central in New York rs she did when
the ownership was in this State. There
may be occasions when the Central will be
made to contribute to New York's great
ness. but 10 the main, doubtless, the desire
for dividends will insure it's being run so
as to make the most money. 1t is the az
gregate of the special benefits which will
accrue to New York from the roads
owned there that will promote her pros
perity.
With such avast country to draw wealth
from, and with so many transportation
lines penetrating 1t, gathering up its
riches and pouring them into her lap, it
cannot be many years before New York
will be the great city OF the world.